My initial target for the EUR/USD after we broke 1.37 in May was 1.34ish. The EUR/USD hit this level in late July and then spent three weeks at this support level before eventually breaking it and selling off to 1.315ish:
As you can see in the chart, 1.31-1.32 is another support level. If it breaks, 1.28ish seems to be the next target. If it holds though and we can rally above 1.322, we should see 1.335ish again.
Author: Patrick Eugster